This paper examines the relation between location, liquidity, and prices in urban housing markets. We build geospatial datasets for German and U.S. cities and show that housing liquidity and prices jointly decrease with distance to the city center. Using transaction-level data, we estimate a...

We examine how rising energy costs affect rental housing markets and inequality. Using listing data for the 30 largest German cities from 2015–2024, we find that higher energy prices are passed through to net rents in high-rent segments, where inefficient properties see significant rent...

This paper examines the relationship between location, liquidity, and prices in housing markets. We construct spatial datasets for German and U.S. cities and show that liquidity and prices decline with distance to the city center. To rationalize these results, we build a structural model with...

Mit dem German Real Estate Index (GREIX) wurde eine transaktionsbasierte, langzeitliche Datenbank zur Analyse von Wohnimmobilienpreisen in Deutschland seit den 1960er-Jahren aufgebaut. Die Analyse der Daten zeigt einen kräftigen Preisanstieg ab 2009, eine Korrektur seit 2023 sowie eine...

In dieser Studie analysieren wir auf Grundlage von Millionen Verkaufs- und Mietinseraten in Deutschland den Effekt von Energieausweisen auf Verkaufspreise und Mieten, um die Ursachen für die Stagnation der Sanierungsrate im Wohnungsbestand zu verstehen. Die Ergebnisse zeigen, dass höhere...

In this study, we analyze the effect of energy performance certificates on sales prices and rents on the basis of millions of sales and rental listings in Germany in order to understand the causes of the stagnation of the refurbishment rate in the German housing stock. The results show that...

This paper introduces new real estate price indices for 18 major German cities and their neighborhoods (Stadtbezirke) as well as a new composite indicator for the German housing market - the German Real Estate Index (GREIX). The series are constructed on the basis of long-run transaction level...

Rising within-country differences in house values are a much debated trend in the U.S. and internationally. Using new long-run regional data for 15 advanced economies, we first show that standard explanations linking growing price dispersion to rent dispersion are contradicted by an important...